Reuters

A Desperate OPEC Asks US Shale For Help In Cutting Oil Output

“We urge our friends, in the shale basins of North America to take this shared responsibility with all seriousness it deserves, as one of the key lessons learnt from the current unique supply-driven cycle,” OPEC secretary general Barkindo politely asked US shale producers to curb their output on Tuesday in a bid to push oil prices higher.

Frontrunning: October 10

  • Thousands Flee as Deadly Fires Ravage California Wine Country (WSJ)
  • Trump Allies Fear Corker Feud Threatens Tax Plan (BBG)
  • Catalans Face Day of Reckoning (BBG)
  • Puerto Rico’s $74 Billion Burden Left It Helpless When Maria Hit (BBG)
  • Brain Drain Index: The Smartest Americans Are Heading West (BBG)

Moscow Warns It May "Restrict" U.S. Media Operations In Russia

With relations between the US and Russia souring to the point where media outlets such as RT and Sputnik appear on the path to being effectively banned, the Russian foreign ministry said that it is within Russia's rights to restrict the operations of U.S. media organizations in Russia in retaliation for what Moscow calls U.S. pressure on a Kremlin-backed TV station.

Frontrunning: October 9

  • Thaler, Famed for ‘Nudge’ Theory, Wins Nobel Prize in Economics  (BBG)
  • Republicans Worry About Keeping Trump’s Middle-Class Tax Promise (BBG)
  • Catalan leader under pressure to drop independence (Reuters)
  • Spain Warns Catalonia Independence Bid Risks Economic Meltdown (BBG)
  • U.S. Asks Allies to Cut Off North Korea (WSJ)

What Happens To Iran's Oil Exports If Sanctions Are Renewed: Goldman Explains

European buyers, which account for 25% of Iran’s 2.2 mb/d crude exports, could potentially stop their purchases to avoid falling foul of US secondary sanctions. The key to the global oil market is whether these flows will be curtailed rather than simply redirected to Asia. Net, we would expect that if US secondary sanctions are renewed, they would initially put at risk a few hundred thousand barrels of Iranian exports